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"FSBO" or "buying foreclosures"
"Chicago, IL" or "Florida"
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battlescarred
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The problem is that about 6 weeks before I put my home on the market he advised me to list for $375k. Because this represented a decent profit, I decided to go forward and list my home for sale. After I had some repairs done I put it on the market and had a few showings, but no offers. After 60 days my realtor advised me to lower the price to $345k, which I agreed to. The showings all but dried up. He then said that I should set the market, not chase it, which I agreed to and put my house at $315K. Nothing. We had two open houses that had 4 or 5 "units" visit, and no offers. We then lowered the price to 300k, which was just like not doing anything at all as far as generating showings. My whole neighborhood has remained stagnant in sales, where 2 years ago the comps were selling for above my original asking price and up to 500k.
Now, he suggests I lower my price to $260k, which is where he predicts the market will be in a year. Well, I cannot afford to do that and told him that I will just stay in my home then, rather than lower the price that much. He is now acting sarcastic and perhaps upset at my suggestion of taking my home off the market. He always points to "unrealized gain" and tells me that I'm being unrealistic. Well, I know the market is tight but I have to point out that the pool of buyers is dried up for now, and no amount of lowering my price is going to change that. Anyone who wants a home of that price can find one. It just won't be in my really nice neighborhood.....see next post....
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